In 2022 the UK coffee shop/cafe market was worth £4.6bn. Sales of Starbucks Coffee were £328m in 2022.
Using the data calculate, to 2 decimal places, the market share of Starbucks Coffee in the coffee shop/café market. You are advised to show your workings.
[4 marks]
Step 1: Identify annual sales of Starbucks Coffee
£328m
[1 mark]
Step 2: Identify the total size of the coffee shop/cafe market
£4.6bn
[1 mark]
Step 3: Substitute figures into the formula
[1 mark]
Step 4: Present the answer to two decimal places
7.13%
[1 mark]